by The global intensive care beds market is driven by the rising prevalence of chronic respiratory diseases and increasing road accidents. Intensive care beds are beds equipped with various medical devices and equipment that aid respiratory support, circulatory support, equipment for monitoring and thermoregulation for critically ill patients. Growing healthcare infrastructure and number of ICUs across the globe have further propelled the demand for intensive care beds.
The Global Intensive Care Beds Market Size Is Estimated To Be Valued At US$ 3.45 Bn In 2024 And Is Expected To Exhibit A CAGR Of 7.9% Over The Forecast Period 2024-2031.
Key Takeaways
Key players operating in the global intensive care beds market are Stryker Corporation, Invacare Corporation, Hill-Rom Holdings, Inc., Getinge AB, Medline Industries, Inc., Stiegelmeyer GmbH & Co. Kg., Linet Spol. S.R.O., Merivaara Corp., Malvestio S.P.A, Nitrocare, DSV Panalpina A/S (Span-Amerca Medical Systems. Inc.), Amico Group of Companies, Midmark Corporation, Favero Health Projects Spa, Savion Industries, MESPA, Baxter, Narang Medical Limited., Arjo, PARAMOUNT BED CO., LTD., and Gita Mediquip PVT. LTD.
The key opportunities in the global intensive care beds market include growing healthcare expenditure, increasing prevalence of chronic diseases, and the untapped potential in developing regions. Moreover, technological advancements in intensive care beds focusing on safety, comfort, and efficacy are further fueling the market growth.
The global intensive care beds market is expanding rapidly owing to growing demand from emerging economies of Asia Pacific and Latin America on the backdrop of increasing per capita healthcare spending. Moreover, rising medical tourism in these regions is prompting healthcare facilities to invest in advanced ICU infrastructure including intensive care beds.
Market Drivers
The global intensive care beds market is expected to witness robust growth owing to rapidly aging population and associated rise in chronic diseases worldwide. As per WHO, over 1.7 billion people worldwide are estimated to be aged over 60 years by 2050. Moreover, rising life expectancy has led to surge in age-related health issues that often require intensive care support, thereby driving sales of intensive care beds. Additionally, growing number of road accidents and trauma cases necessitate adequate availability of ICU beds with best-in-class features. Development of beds with advanced therapeutic and monitoring capabilities are enabling improved patient outcomes.
Pest Analysis
Political: Government policies and regulations related to healthcare infrastructure and hospital services have a significant impact on the adoption of intensive care beds. Regulations covering life support technologies and standards for critical care further drive the demand.
Economic: Rising healthcare expenditure and increasing per capita income has boosted the demand for advanced healthcare services. This has positively impacted the intensive care beds market. Hospital investments in advanced ICU equipment is influenced by the economic conditions.
Social: Growing geriatric population and prevalence of chronic diseases have increased the need for intensive care. Social awareness about critical care and life support has increased the uptake of intensive care beds.
Technological: Developments in critical care technologies have enhanced the functionality of intensive care beds. Introducing features like adjustable beds, integrated monitoring systems, and specialty surfaces have expanded the application areas. Tele-ICU is enabling remote intensive care deliver through digital technologies.
The market in terms of value is majorly concentrated in North America and Europe regions. North America holds the largest share due to well-established healthcare infrastructure, high healthcare expenditure, presence of leading market players and growing elderly population. Whereas Asia Pacific region shows faster growth rates owing to rising medical tourism, increasing healthcare budgets, expanding healthcare infrastructure and growing public and private hospitals.
The fastest growing region for global intensive care beds market is Asia Pacific, mainly driven by China and India. Presence of large patient pool, increasing per capita income, improving healthcare accessibility and government emphasis on modernizing hospitals infrastructure drive the demand. Other factors supporting the growth include rising disease incidences, growing medical tourism and expanding medical device industry. South East Asian countries and Latin America also offer high growth opportunities for intensive care beds market.
What are the key data covered in this Global Intensive Care Beds Market report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global Intensive Care Beds Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Intensive Care Beds Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behavior
:- Global Intensive Care Beds Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Global Intensive Care Beds Market vendors
FAQ’s
Q.1 What are the main factors influencing the Global Intensive Care Beds market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global Intensive Care Beds Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Intensive Care Beds market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
- Source: CoherentMI, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
